Deal Insight
Delek acquires Chevron's UK North Sea assets for US$2 billion
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Chevron sells its UK North Sea business to Delek Group subsidiary, Ithaca Energy, for US$2 billion. The deal is transformational for Ithaca, which becomes the UK's fifth-largest producer. Clair is now Chevron's only UK asset as the US supermajor continues to retrench to core positions.
Table of contents
- Executive summary
- Transaction details
-
Upstream assets
- Captain (85%)
- Alba (23.37%)
- Erskine (50%)
- Britannia (32.38%)
- Britannia Satellites - Brodgar (6.25%), Callanish (16.5%) and Enochdhu (50%)
- Alder (73.68%)
- Elgin / Franklin (3.90%)
- Jade (19.93%)
- Deal analysis
-
Upsides and risks
- Upsides
- Risks
-
Strategic rationale
- Chevron
- Delek Group
- Oil & gas pricing and assumptions
Tables and charts
This report includes the following images and tables:
- Executive summary: Table 1
- Deal analysis: Table 1
- Deal analysis: Table 2
- Oil & gas pricing and assumptions: Table 1
- Oil & gas pricing and assumptions: Table 2
- Upstream assets: Table 1
What's included
This report contains:
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